|
|
ABSOLUTE POVERTY LEVEL: The amount of income a person or family needs to purchase an absolute amount of the basic necessities of life. These basic necessities are identified in terms of calories of food, BTUs of energy, square feet of living space, etc. The problem with the absolute poverty level is that there really are no absolutes when in comes to consuming goods. You can consume a given poverty level of calories eating relatively expensive steak, relatively inexpensive pasta, or garbage from a restaurant dumpster. The income needed to acquire each of these calorie "minimums" vary greatly. That's why some prefer a relative poverty level.
Visit the GLOSS*arama
|
|
|
|
|
SCARCITY A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.
Complete Entry | Visit the WEB*pedia |
|
|
YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for celebrities who speak directly to you through your television.
Your Complete Scope
This isn't me! What am I?
|
|
|
Natural gas has no odor. The smell is added artificially so that leaks can be detected.
|
|
|
"I can't change the direction of the wind, but I can adjust my sails to always reach my destination." -- Jimmy Dean
|
|
MFN
Most-Favoured Nation
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
